Independent renewable energy consultancy firm Natural Power, has completed full lender’s technical due diligence services for four wind farms in northern France, on behalf of funding banks Nord/LB and HSH Nordbank.
Diamond Generating Europe, a Mitsubishi Group subsidiary, and EDF Energies Nouvelles, has secured a €100m non-recourse debt package with two lenders to finance the construction of the projects.
The wind farms, which are located in the Nord-Pas de Calais and Picardie regions, will have a combined generating capacity of 72MW.
To secure the financing, Natural Power has reviewed the balance of plant and engineering, procurement and construction contracts and gap analysis, business plan review, including validation of assumptions book, technical review of land lease agreements and audit of energy production assessment.
The company has also reviewed acoustic risk and reassessment of curtailment, building permit and consent discharge review and Balance of Plant – grid connection review.
In addition, Natural Power will also provide construction monitoring and drawdown validation on behalf of the funding banks throughout the build out process and operational phase.
Natural Power France director Oisin Brady said, "It is with great pleasure that we have worked on these four sites on behalf of two of Europe’s leading lenders to the renewables sector."
The company has provided M&A and lenders Due Diligence on 10GW of projects including 4GW in France.
Natural Power has managed the construction of over 1100MW of wind farm projects and provided comprehensive asset management services for 2000MW of operating wind farm capacity.
Image: The wind farms will have a combined generating capacity of 72MW. Photo: courtesy of Freedigitalphotos.